Embassy Office Parks REIT on April 27 announced the appointment of Aravind Maiya as the chief executive officer who returns to the country's first listed real estate investment trust from Tata Realty. The appointment will be effective July 1, 2023.
Vikaash Khdloya, who expressed his intent to pursue other interests, would step down as CEO effective June 30, 2023 after which he would assume the role of senior adviser to the REIT until the end of the year, Asia’s largest office REIT by area said in a regulatory filing.
Maiya, who as the chief financial officer, played a pivotal role in the growth of Embassy REIT since its listing. With over 22 years of experience, he returns to Embassy from Tata Realty, where he was the CFO.
“I am delighted to rejoin Embassy REIT to lead its next phase of growth. We have ambitious aspirations, and I’m excited about the potential that lies ahead. I look forward to working again with the wonderful team at the REIT to create long-term value for all our stakeholders,” Maiya said.
Embassy Group chairman and managing director Jitu Virwani said he was happy that Maiya was taking over as CEO.
“Aravind was a core member of the REIT’s management team and was instrumental in driving its success since listing. We’re very grateful to Vikaash for his stewardship of Embassy REIT over the last few years, particularly during the two years of the pandemic. We wish him continued success in his future endeavours,” he said.
Embassy REIT owns and operates a 45 msf portfolio of nine infrastructure-like office parks and four city centre office buildings in Bengaluru, Mumbai, Pune, and the National Capital Region. Its portfolio comprises 34.3 msf completed operating area and is home to around 230 of the world’s leading companies.
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